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September 17 - 3:45pm EDT
Universal Music may have finally reached the point at which purely digital music has become profitable, Vivendi Universal chief Jean Bernard Lévy has told the Financial Times. Despite most major labels having seen rapid declines in CD sales that have yet to be compensated by online purchases, Universal now has a "surprise" for investors of a five percent boost in its first-half 2008 revenue to $3.1 billion where it would previously have posted a loss. The change is a sign that the company is nearing the point at which CDs can hurt its bottom line, according to Lévy. [full story]<< first1last >>
